Article 117
Art. 117Status unknownSaudi ArabiaRegulation
Issued by Saudi Central Bank (SAMA) Rulebook
(1) The Operating Rules of a Payment System Operator must compel each Member to notify that Payment System Operator forthwith of the bankruptcy, potential bankruptcy or the commencement of bankruptcy proceedings relating to any Member. (2) A Payment System Operator must notify SAMA immediately of the bankruptcy, potential bankruptcy of a Member or the commencement of bankruptcy procedures relating to that Member.
The Arabic text is the legally binding version. The English translation is provided for guidance only.
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